ResMed Inc. (NYSE:RMD) Shares Sold by American National Bank & Trust

American National Bank & Trust trimmed its position in ResMed Inc. (NYSE:RMD) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,303 shares of the medical equipment provider’s stock after selling 103 shares during the period. American National Bank & Trust’s holdings in ResMed were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RMD. Vanguard Group Inc. boosted its position in ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after acquiring an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Greenvale Capital LLP grew its position in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in ResMed by 15.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after purchasing an additional 95,689 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Tuesday. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada upped their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, KeyCorp upped their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $213.75.

Insider Activity

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,931 shares of company stock worth $23,119,207. 1.21% of the stock is owned by corporate insiders.

ResMed Trading Up 0.0 %

Shares of NYSE RMD opened at $238.86 on Thursday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The company has a market cap of $35.10 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 2.36 and a beta of 0.69. The business has a fifty day simple moving average of $232.69 and a 200-day simple moving average of $212.33.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. Sell-side analysts predict that ResMed Inc. will post 8.97 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 32.57%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.